Nevada Revised Statutes > Chapter 40 > Debt Secured by Mortgage or Other Lien > General Provisions
Current as of: 2022 | Check for updates
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§ 40.426 | Definitions |
§ 40.427 | ‘Foreclosure sale’ defined |
§ 40.428 | ‘Mortgage or other lien’ defined |
§ 40.429 | ‘Sale in lieu of a foreclosure sale’ defined |
Terms Used In Nevada Revised Statutes > Chapter 40 > Debt Secured by Mortgage or Other Lien > General Provisions
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.